Subscribe Free
in Business & Finance

Air Arabia shareholders approve ten percent cash dividend at AGM

Posted 14 March 2018 · Add Comment

Air Arabia has seen a 30% increase in net profit over the past 12 months according to figures released by the Sharjah Airline today.

The region’s first low-cost carrier recorded profits of $180.25million in 2017 and announced a 10% cash dividend for shareholders at its AGM in Sharjah today.

Chairman of Air Arabia, Sheikh Abdullah Bin Mohammed Al Thani, said: “We are pleased with the performance of the company in 2017 which is reflected in the increase of dividends to our shareholders as compared to last year. Air Arabia remains committed to the growth of the aviation sector both regionally and globally and is strongly poised to overcome any future challenges. Consumer trust is key to our growth strategy as we continue to maintain a strong financial performance through the year and beyond.”

The airline added 21 new routes to its global network in 2017 from its five operating hubs in the UAE, Morocco, Egypt and Jordan. The carrier took delivery of four new aircraft and ended the year with a fleet of 50 Airbus A320 aircraft operating to 145 routes across the Middle East, Africa, Asia and Europe.

Other Stories
Advertisement
Latest News

Etihad engineers fresh opportunities

Every problem offers potential opportunities and even the pandemic is no exception, as Alan Dron found out when he spoke to Etihadís Engineering division.

Etihad Airways to recommence passenger flights to Doha

Etihad Airways will recommence passenger flights from Abu Dhabi to Doha on 15 February 2021, subject to the applicable government approvals.

Dnata inaugurates cargo complex at Manchester Airport

Dnata, part of the Emirates Group. has opened a new, state-of-the art cargo complex, Dnata City North, at Manchester Airport (MAN).

Iraqi CAA awards international ground services operating license to MASIL

Menzies Aviation has announced that the Iraqi Civil Aviation Authority (ICAA) has awarded the exclusive contract for the delivery of a full suite of ground handling, cargo and fuelling services at Baghdad International Airport to

Qatar Airways and Iberia strengthen strategic partnership

Qatar Airways has signed an expanded codeshare agreement with Iberia.

Interaction key to post-virus airlines

As Middle East airlines start to increase their capacity again following the Covid-19 outbreak, Panasonic Avionics is responding.

CONNECT SK0110090421
See us at
Aviation Africa 2021 BTNNIDEX 2021 BT26221CONNECT BT0610090421World Defence Show 2022Aviation MENA 2021